Metinvest Mining and Processing Plants Hold 2.3 Billion Tons of Iron Ore Reserves

Metinvest's mining and processing plants have announced that they possess around 2.3 billion tons of proven iron ore reserves within their deposits. This information was shared by Eduard Bespoyasko, the Chief Geologist and Head of the Mining Department at Metinvest Group, who emphasized the importance of these resources for the company's future.

"Currently, across all deposits of the United Mining and Processing Complex, we have approximately 2.3 billion tons of proven ore reserves. Even at the full design capacity of our plants, we have enough work for at least half a century. However, I believe that there will be enough work for several generations of miners and geologists to come," Bespoyasko stated, highlighting the stability and prospects of the company's mining activities.

In 2024, Metinvest implemented a new operational model for its mining enterprises, which includes the management of the Central, Inhulets, and Northern Mining and Processing Plants through a single administrative management center. This decision was made two years ago when the company decided to consolidate the three enterprises into one management structure to enhance operational efficiency and maintain production levels during the ongoing war.

"When the company made the decision two years ago to merge the three enterprises into a single management structure to improve operational efficiency and maintain production levels during the war, it was necessary to create a unified team of geologists from the Inhulets, Central, and Northern plants," Bespoyasko recalled regarding this developmental phase of Metinvest.

Discussing the diversity of ores, Bespoyasko noted that the Group's deposits vary in composition and technological properties. "Even in different parts of the same horizon, they can vary significantly. For the factory to operate stably, it is essential to know all these characteristics and study them. Then, based on the information provided by geologists, miners can extract, stockpile, blend, and supply ore to the factories with the specific quality characteristics needed to achieve the best results," he explained.

Bespoyasko also emphasized that Metinvest's deposits are rich in interesting minerals. "Just the other day at the Hannyvsky quarry, my colleagues and I saw beautiful amethyst clusters; we sometimes find various agates, garnets, tiger's eye, and gypsum roses. Occasionally, we come across pyrite, commonly known as fool's gold. However, in Kryvorizhzhia, they say that the best gold is iron," he added, showcasing the wealth of natural resources in the region.

Earlier, it was reported that Metinvest had introduced a new unique product to the Romanian market, indicating the company's active development and commitment to innovation. Metinvest is a vertically integrated group of mining and metallurgical enterprises located in Ukraine, the European Union, and the United Kingdom. The main shareholders of Metinvest are the SCM Group (71.24%) owned by Rinat Akhmetov and Smart Holding (23.76%). The managing company of the Metinvest Group is Metinvest Holding LLC.